Small business owners wear many hats, from formation documents and payroll to marketing and sales. One that very often gets overlooked is compliance with the deadlines for filing the necessary reports with your state (typically on an annual basis).
What are annual reports?
In most states, it's a legal must for businesses to file ongoing reports. Typically, the state requires you to do this annually to ensure they have the latest information on your company, including its name, address, and managers. If you fail to file these annual reports, your company could fall out of good standing. Companies not in good standing may risk penalties and fees, and ultimately having their entities suspended by their state.
What is LegalZoom's total compliance?
LegalZoom has a solution for staying on top of your annual reports and other mandatory filings: Total Compliance. This solution helps you keep your business in good standing and is personalized to your business and your state.
LegalZoom's Total Compliance includes the filing of your annual reports (if necessary in your state) and Compliance Calendar, which creates a tailored calendar to keeps track of important filings dates. Note that tax-related reports are not filed as part of Total Compliance.
If LegalZoom misses a deadline, you have a compliance guarantee that will pay your fine or penalty.
When it's time to begin preparing for something, like an annual report or income tax deadlines, Total Compliance Alerts notifies you in time to meet your filing dates, so you can avoid paying any late fees or fines.
And when you need to record an important meeting, the Total Compliance Minutes Manager provides an easy way to track it. It also tracks notices and resolutions so you can stay compliant.
Who needs LegalZoom's total compliance and why?
If you have a small or mid-size business, don't have the time or expertise to figure out what you should file and when, would rather be able to manage minutes or filings with a few clicks, and don't want to worry about falling into noncompliance, LegalZoom's Total Compliance is probably for you.
For more than 20 years, LegalZoom has made legal services accessible and affordable. They have helped entrepreneurs turn ideas into businesses more than two million times; let them help you too.